A leader early, energy stocks have turned sharply negative as crude oil has pulled back, falling 3 percent on the day. That move has helped pull down the broader markets to session lows in the last hour of trading.

Stocks closed mixed a day after hitting multiyear highs despite positive economic news and after word the Federal Reserve didn't believe the economy had improved enough by December to alter its economic stimulus program.

Stocks gained some strength in the final hour of trading, but remained mixed after news the Federal Reserve didn't believe the economy had improved enough by December to alter its economic stimulus program. Alcoa and Walt Disney rose, while McDonald's fell.

As we end a rather nasty 2008 and head into a new year that doesn't hold much optimism, Jared Levy, senior market specialist at Financial Markets Education sees investment potential in education, infrastructure and energy.

One of the first orders of business for the new president will be a long, hard look at the budget. The budget deficit will be about $500 billion when Obama is sworn into office, but with the $700 billion TARP plan it should go to $1 trillion quickly.

Want to see how important global growth has become? YUM Brands beat, but look at the growth: mainland China same store sales up 17 percent, 5 percent growth worldwide, 1 percent in the U.S. YUM now gets nearly 45 percent of its sales outside the U.S.

Here are my morning thoughts: Markets: The entire Street is expecting a 25 basis point cut in the Fed funds rate, and at least that much in the discount rate. A small but vocal minority believe that a 50 basis point cut is more appropriate, given the evidence of a slower economy and the recent return of a choppier credit market.